Saudi MoF to issue sukuk in July – Al-Jadaan

Budget spending for Q2-17 was lower than forecasts, while revenues were higher, the minister revealed

09 July 2017 03:17 PM

Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) will issue sukuk during July in accordance with the fiscal balance programme, Saudi minister of finance Mohammed Al-Jadaan told Al Arabiya in an interview.

The budget deficit for the second quarter of 2017 is still lower than expected; however, it is coming closer to falling in line with projections, Al-Jadaan added on the sidelines of the G20 summit in Hamburg, Germany.

Budget spending for Q2-17 was lower than forecasts, while revenues were higher, the minister revealed, adding that he expects moderate economic growth in 2019 and 2020.

Commenting on the citizens’ account portal, the minister noted that the project will come into effect once energy prices are amended. Progress is moving as planned, he added.